1990
1990
2011-07-08
State Bank (Corporatisation) Act
1989
act-1989-195
reg
none
reprint
allinforce
website
Gazette No 62 of 11 May 1990, page
3751
0
2011-07-08
act
act-2011-027
sl-1990-0274
26b89997-f822-4e2a-8c03-45ef93d53be5
3bec8999-0bed-4063-9d38-b740b56f5507
Repeal:
The Regulation was repealed by Sch 4 to the
Statute Law (Miscellaneous Provisions) Act 2011
No 27 with effect from 8.7.2011.
1Name of
Regulation
This Regulation may be cited as the State Bank (Corporatisation) Savings and Transitional
Regulation 1990.
2Commencement
This Regulation takes effect on 14 May
1990.
3Definitions
In this Regulation:
Corporation means State Bank of New
South Wales Limited.
State
Bank means the State Bank of New South Wales, constituted
under the State Bank Act 1981.
the
Act means the State Bank
(Corporatisation) Act 1989.
4Authority for
Regulation
This Regulation is made in pursuance of the power
conferred by section 22 of the Act.
5Corporation may act in own
name or in name of State Bank
(1)
On and from:
(a)
the commencement of the order under section 9 of
the Act transferring the business undertaking of the State Bank to the
Corporation, and
(b)
the dissolution of the State
Bank,
the Corporation may, in connection with that business
undertaking, act in its own name as the universal successor of the State Bank
or (if necessary) act in the name of the State Bank.
(2)
Subclause (1) applies for all purposes, including
for the purpose of the rules of private international
law.
(3)
Without limiting subclause (1), the Corporation
may act in the name of the State Bank if it is necessary to do so under the
law of any country to perfect the transfer of any asset, right or liability
comprised in the business undertaking or to take legal proceedings in
connection with any such asset, right or liability.
(4)
For the purposes of this clause, the Corporation
is authorised to use the seal of the State Bank.
6“State Bank” etc
acceptable as name under Companies Code until 14 May
1991
(1)
It is sufficient compliance with section 218 of
the Companies (New South Wales) Code, and no
criminal or civil liability arises under that section, if a name which
comprises or includes the words “State Bank” is used in any case
where the name of the Corporation is required by that section to appear (or to
be painted or affixed, or kept painted or affixed).
(2)
Subclause (1) ceases to have effect on 14 May
1991, but the existence, on or after that date, of anything issued or signed
before that date:
(a)
referred to in section 218 (1) (b) of the Companies (New
South Wales) Code, and
(b)
on which, instead of the name of the Corporation,
any other name which comprises or includes the words “State Bank”
appears,
does not give rise to any criminal or civil liability
under that Code.
7“State Bank” etc
acceptable as business names until 14 May 1991
(1)
It is sufficient compliance with section 20 (a)
and (b) of the Business Names Act
1962 if a name which comprises or includes the words
“State Bank” is used in any case where the business names of the
Corporation registered under that Act are required to appear, or be displayed,
by that section.
(2)
Subclause (1) ceases to have effect on 14 May
1991.
8Preservation of full-time
director’s superannuation rights
(1)
This clause applies to a full-time director of
the Corporation who, immediately before becoming such a director:
(a)
was a full-time director of the State Bank,
or
(b)
was an employee of the Corporation who,
immediately before becoming such an employee, was an officer or employee of
the State Bank.
(2)
A full-time director to whom this clause
applies:
(a)
may continue to contribute to any superannuation
scheme to which he or she was a contributor immediately before becoming such a
director, and
(b)
is entitled to receive any payment, pension or
gratuity accrued or accruing under the scheme,
as if he or she had continued to be such a contributor
during service as a full-time director with the
Corporation.
(3)
Such service with the Corporation is to be taken
to be service as an officer in his or her previous employment (under which the
entitlement to contribute to the scheme arose) for the purposes of any law
under which the full-time director continues to contribute to the scheme or by
which an entitlement under the scheme is conferred.
(4)
The full-time director is to be regarded as an
officer or employee, and the Corporation is to be regarded as the employer,
for the purposes of the scheme.
(5)
This clause ceases to apply to the full-time
director if he or she becomes a contributor to another superannuation scheme,
but the director is not prevented from receiving a resignation benefit from
the first superannuation scheme.
(6)
A full-time director is not entitled to claim,
under both this clause and any Act, dual benefits of the same kind for the
same period of service.
(7)
This clause applies to a full-time director
referred to in subclause (1) (b) only if he or she was a contributor to the
same superannuation scheme during the whole of the period during which he or
she was an employee of the Corporation.
(8)
In this clause:
superannuation scheme means a
scheme, fund or arrangement under which any superannuation or retirement
benefits are provided and which is established by or under an
Act.
Historical
notes
Table of amending
instruments
State Bank
(Corporatisation) Savings and Transitional Regulation
1990 published in Gazette No 62 of 11.5.1990, p
3751.